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Citigroup struck down in battle between hedge funds, Argentina

Ruling also leave Argentina with limited options to raise money from banks

US District Court Judge Thomas Griesa has allowed Citigroup to make a US$5 million payment to a small group of investors holding bonds that had been issued under Argentine law.

New York

THE nasty battle between Argentina and a group of New York hedge funds has claimed another victim: Citigroup.

The bank said on Tuesday that it would shut its custody business in Argentina after a federal judge in New York last week rejected its request to lift an order